Anyone From Nottingham? Thoughts on Trent Basin Development

Mercurial

Hi,

I'm back home in Nottingham in August (currently working overseas).

Does anyone know the Trent Basin Development? I'm wary of new builds but the houses look a bit more interesting than the average nb, it's close to the city and has water views.

TIA

[Deleted User]

It's in the middle of an industrial estate at the moment, but I viewed one of the properties last year and they seem decent enough. Was also the wrong side of the city centre for me.

Cakeguts

Flood insurance?

Mercurial

Sparky that's what concerns me it looks a bit grim on Google Maps once you leave the development but that will hopefully change in the next few years. I could buy a two bed terrace in West Bridgford for the same price.

Cakeguts thanks I will definitely have to look into that and see what Flood defences are in place.

[Deleted User]

It's also basically in Sneinton, which doesn't have the best of reputations.

I looked at West Bridgford, but then I ended up in Bramcote (Beeston). Got a much nicer house for the same money because NG9 doesn't have the hipster prices yet.

Mercurial

Sparky my house is in Beeston. I was looking at properties in Bramcote before buying in Beeston. Was looking around Chapel Street. The landlord of the White Lion said he preferred Bramcote to West Bridgford.

Yes, being in Sneinton isn't great.

LouMaLou

Hi all, this is an oldish chat but hoping someone will see it and dispense some words of wisdom. I've just been down to Trent Basin to view a gorgeous two bed town house for 250k. I'm a first time buyer and after looking at victorian terraces in Sherwood for the past 12 months and being priced out from higher offers I'm getting very starry eyed at a brand new property by the river. I can only 'afford' the 250k because of the Help to Buy scheme which requires a 5% deposit.

With regards to previous comments the industrial estate is very much an eyesore but there's lots more residential property being developed in the area as well as a foot bridge and the foot path by the river is being extended towards the bridge. My concerns are, will there be too many houses being built thus reducing the value in the long term? I obviously want to buy something which will benefit from capital growth. The 2 bed apartments east of this development are going for 500k which seems crazy for Nottingham! Any advice would be welcomed. Thanks

bolwin1

I live a couple of miles away from this development. Even if they do build a lot more housing down there, it will still be surrounded by a large & pretty ugly looking industrial estate & going through it will be the only way in or out by car. 

I can't see more houses depressing the value - if the development gets big enough to support a local cafe / local shops, it may well help prices. 

Whilst the footbridge over the river will be a nice addition, I can't see it adding much value as it won't make getting to work any easier for most people (although if they extend the paths down towards Trent Bridge, this would make for a pleasant cycle commute to Boots). 

I'm not sure you can really compare the Trent Basin with the River Crescent development - River Crescent feels a lot more 'premium' & has it's own access by the more scenic route alongside the racecourse (although I think they are fairly overpriced too). It also has a gym, swimming pool etc. etc. 

If you are looking for capital growth on a newbuild, you need to be in it for the long-term. Most new builds lose money on day one (a bit like driving a car out of a showroom). It may take a few years to get back to where you started, especially if the housing market does take a dip.